GENEROSITY PATH C.I.C.

Company Registration Number:
13095393 (England and Wales)

Unaudited statutory accounts for the year ended 31 December 2023

Period of accounts

Start date: 1 January 2023

End date: 31 December 2023

GENEROSITY PATH C.I.C.

Contents of the Financial Statements

for the Period Ended 31 December 2023

Profit and loss
Balance sheet
Additional notes
Balance sheet notes
Community Interest Report

GENEROSITY PATH C.I.C.

Profit And Loss Account

for the Period Ended 31 December 2023

2023 2022


£

£
Turnover: 104,729 166,000
Cost of sales: ( 104,342 ) ( 164,910 )
Gross profit(or loss): 387 1,090
Operating profit(or loss): 387 1,090
Profit(or loss) before tax: 387 1,090
Tax: ( 74 ) ( 207 )
Profit(or loss) for the financial year: 313 883

GENEROSITY PATH C.I.C.

Balance sheet

As at 31 December 2023

Notes 2023 2022


£

£
Current assets
Debtors: 3 0 1,540
Cash at bank and in hand: 889 32,248
Total current assets: 889 33,788
Creditors: amounts falling due within one year: 4 ( 74 ) ( 33,286 )
Net current assets (liabilities): 815 502
Total assets less current liabilities: 815 502
Total net assets (liabilities): 815 502
Capital and reserves
Called up share capital: 100 100
Profit and loss account: 715 402
Total Shareholders' funds: 815 502

The notes form part of these financial statements

GENEROSITY PATH C.I.C.

Balance sheet statements

For the year ending 31 December 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

This report was approved by the board of directors on 7 February 2024
and signed on behalf of the board by:

Name: Lucy Anne McDonald
Status: Director

The notes form part of these financial statements

GENEROSITY PATH C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 1. Accounting policies

    Basis of measurement and preparation

    These financial statements have been prepared in accordance with the provisions of Section 1A (Small Entities) of Financial Reporting Standard 102

    Turnover policy

    Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax andother sales taxes. Turnover is derived from trade solely with the United States of America (USA).Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

    Other accounting policies

    Pension costs: The company operates a defined contribution scheme for the benefit of its employees. Contributions payable arerecognised in the profit and loss account when due.Foreign exchange: Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.Deferred taxation: Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.Deferred tax assets and liabilities are not discounted.

GENEROSITY PATH C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

  • 2. Employees

    2023 2022
    Average number of employees during the period 1 2

GENEROSITY PATH C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

3. Debtors

2023 2022
£ £
Prepayments and accrued income 0 1,540
Total 0 1,540

GENEROSITY PATH C.I.C.

Notes to the Financial Statements

for the Period Ended 31 December 2023

4. Creditors: amounts falling due within one year note

2023 2022
£ £
Taxation and social security 74 86
Accruals and deferred income 0 33,200
Total 74 33,286

COMMUNITY INTEREST ANNUAL REPORT

GENEROSITY PATH C.I.C.

Company Number: 13095393 (England and Wales)

Year Ending: 31 December 2023

Company activities and impact

For the financial year, Generosity Path continued its role to start conversations about generosity among Christians.At Generosity Path, we believe:Everyone deserves a safe, judgement-free space to explore generosity, without being asked to give. We reject the idea that conversations about generosity can only happen with an ask or an expectation that you'll give in a certain way. We believe if more people are talking about generosity, then more are giving, and more are helped! This gathering has guided tens of thousands of givers in more than 100 countries through a series of conversation starters about wonder-filled giving, without asking for a thing!Generosity Path C.I.C. is registered in the UK as a branch of the US entity. All the funds come from the US, which originated from a small group of donors who want to sec generosity touch communities across the world. In 2023, Generosity Path C.I.C in the UK benefitted the UK by providing all the content and materials to host 145 retreats with 800 participants, this was a significant increase on last year. Based on our global survey results, respondents said they gave more financially in the last year than they would have otherwise without their Generosity Path experience. While we don't track individual donations, we are confident some of these donations are going back to benefit the UK. This regional office houses the People & Culture Director (who makes sure our contractors across the world are thriving). When we don't engage in conversations about God's heart for money and generosity, it's easy for us to feel trapped in materialism, chasing things we hope will fill the void but don't fulfil God's intentions and loving plans. People often struggle to discuss giving with others because money can be associated with obligation, shame, and guilt. They then lose out on being part of a safe community that prioritises God's love and shares the same values, intentions, and generosity with giving. Therefore, we provide all the content and materials to start these conversations so that we can talk openly and confidently about generosity, listening to what God is unearthing in us about giving. We want to see people living freely and their hearts fully surrendered to Jesus.

Consultation with stakeholders

Maclellan Center for Global Christian Education (DBA: Generosity Path) our US entity and a report was provided about the global entity which included statistics on the number of retreats and participants.

Directors' remuneration

Directors received renumeration of £84,750.00 plus £2,253.26 in health benefits. In addition, payments were made into the pension scheme of £5,088.00

Transfer of assets

No transfer of assets other than for full consideration

This report was approved by the board of directors on
7 February 2024

And signed on behalf of the board by:
Name: Lucy Anne McDonald
Status: Director